Key Takeaways
- • Kazakhstan's National Security Committee detained Nurlan Jakupov, head of sovereign wealth fund Samruk-Kazyna, on suspicion of corruption on Wednesday, November 11.
- • Yelzhas Otynshiyev, chairman of the management board of national railway company KTZ, was detained in the same action on corruption suspicion.
- • The detentions follow Prime Minister Olzhas Bektenov's public criticism of the fund over delays in implementing investment projects.
- • Jakupov has led Samruk-Kazyna since April 2023 and has chaired the board of state oil and gas company KazMunayGas since May 2025.
- • Samruk-Kazyna wholly owns KTZ, and the fund also owns Samruk-Energy, the country's largest electricity producer.
Summary
Kazakhstan's domestic intelligence agency, the National Security Committee, has detained Nurlan Jakupov, head of the country's sovereign wealth fund Samruk-Kazyna, on suspicion of corruption. According to the agency, Jakupov and Yelzhas Otynshiyev, chairman of the management board of the national railway company KTZ, were both detained on Wednesday, November 11. The report was carried by AnewZ.
The detentions come against a backdrop of public pressure on the fund. Last week, Prime Minister Olzhas Bektenov criticized Samruk-Kazyna over delays in implementing investment projects. According to state news agency Kazinform, Bektenov instructed the fund's management to strengthen oversight of deadlines and increase local procurement. In late October, Bektenov also dismissed Kairat Maksutov as chairman of the management board of Samruk-Energy, citing insufficient oversight of the construction and commissioning of new power plants. Samruk-Energy is the country's largest electricity producer and is owned by Samruk-Kazyna.
Jakupov, 46, became head of Samruk-Kazyna in April 2023. Since May 2025, he has also chaired the board of directors of state oil and gas company KazMunayGas. Otynshiyev became chairman of KTZ's management board in July 2026; KTZ is wholly owned by the sovereign wealth fund.
The source material does not specify the nature of the alleged corruption or any charges filed.
The detentions come against a backdrop of public pressure on the fund. Last week, Prime Minister Olzhas Bektenov criticized Samruk-Kazyna over delays in implementing investment projects. According to state news agency Kazinform, Bektenov instructed the fund's management to strengthen oversight of deadlines and increase local procurement. In late October, Bektenov also dismissed Kairat Maksutov as chairman of the management board of Samruk-Energy, citing insufficient oversight of the construction and commissioning of new power plants. Samruk-Energy is the country's largest electricity producer and is owned by Samruk-Kazyna.
Jakupov, 46, became head of Samruk-Kazyna in April 2023. Since May 2025, he has also chaired the board of directors of state oil and gas company KazMunayGas. Otynshiyev became chairman of KTZ's management board in July 2026; KTZ is wholly owned by the sovereign wealth fund.
The source material does not specify the nature of the alleged corruption or any charges filed.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.